Retirement roulette: 4 million Australians are clueless about their super
Key takeaways
- 19% of Aussies are oblivious to how their superannuation is performing.
- ASFA estimates singles need around $630,000 in super by age 67, and couples around $730,000.
- Big changes to superannuation kick in from today (July 1).
Millions of Australians are leaving the growth of one of their largest assets entirely to chance, according to new research by Finder.
A Finder survey of 1,010 respondents revealed 19% of Australians have never reviewed their superannuation fund's performance.
That's an estimated 4 million people who are oblivious to how hard their super is actually working for them.
This comes as big changes to superannuation kick in from today (July 1).
Australians will get paid their super faster, have the option to contribute more of their pre-tax income to their super balances, and will get paid super on top of paid government parental leave.
Sarah Megginson, personal finance expert at Finder, said many Australians are sleepwalking through one of their most important financial decisions.
"Super is not a 'set and forget' investment – the more engaged you are, the better your retirement outcome is likely to be.
"Too many people have no idea whether their retirement savings is actually working hard enough for them."
A comfortable retirement doesn't come cheap — the Association of Superannuation Funds of Australia (ASFA) estimates singles need around $630,000 in super by age 67, and couples around $730,000.
Megginson said the gap between a high-performing and an average fund can translate into years of additional retirement income.
"Choosing the wrong fund, or simply never checking whether you're in the right one, could cost you hundreds of thousands of dollars by the time you retire.
"At a minimum, Australians should be comparing their fund's performance every year, checking their fees, and making sure their investment option still suits their age and risk appetite."
Finder research shows just 26% of Aussies have actively reviewed or compared their super fund's performance in the last 3 months, while 22% say they have done so in the last 12 months.
The research found 16% admit that the last time they checked their super was over 12 months ago.
Megginson said the earlier you engage with your super, the more time your money has to work in your favour.
"Don't wait until you're close to retirement to start paying attention. By then, it's much harder to make up lost ground," said Megginson.
When was the last time you actively reviewed or compared your super fund's performance?
| In the last 3 months | 26% |
| In the last 12 months | 22% |
| More than a year ago | 16% |
| I've never compared my fund's performance | 19% |
| I don't have a super fund | 18% |
| Source: Finder survey of 1,010 respondents, May 2026 |  |
Credits
- PR & Insights research team: Taylor Blackburn, Kate Boddington, Natascha Kwiet-Evans, William Capada
- Survey operation: Qualtrics
Sources
Ask a question